News digest: Flipkart-Walmart deal, Labour law violation, NBFCs, and more

Walmart is picking up close to 75 per cent in Flipkart, sources said. Walmart, traditionally a brick and mortar giant, is investing $15 billion in the Bengaluru firm

1. India set for largest M&A deal today: Walmart to buy Flipkart for $15 bn

A day ahead of the announcement of the Walmart-Flipkart deal, the largest through the M&A route and marking the American firm’s real entry into India, both organisations were in waiting. The Flipkart campus at Bengaluru’s Embassy Tech Village was dressing up for a town hall meeting with Carl Douglas McMillon, president and chief executive officer of Walmart Inc, while preparing to shed the life of a start-up. The Gurugram headquarters of Walmart India too was busy setting things up for a similar meeting with Doug, as